resistance

People often ask me what do I look at first when I initially study a stock chart. The answer, in this specific order is, trend, support/resistance, moving averages and volume. Then, I begin to flip through time frames. So if … Continued

Gold is well on its way down to an important area of potential support around $1,000/oz; there is a great deal of confluence and price memory in the upper $900s/lower $1000s: Gold (Monthly) Throw in potentially extreme CoT positioning … Continued

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The oil services sector (OIH) is one of the worst performing sectors in the market year to date (-13.2%). However, October has been a good month for this beaten down sector and the OIH exchange-traded fund is testing a key … Continued

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8 days ago I sent out a tweet calling for $1150 gold within a couple of weeks based upon strong seasonal tailwinds and the likelihood that we would get some significant short covering after futures speculators had become over zealous … Continued

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For the last two months gold has been ping-ponging between support around $1180 and resistance near $1225: To be sure, the $1180 level has been tested many more times than the $1225 resistance level. Given the extremely low levels … Continued

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The TSX-Venture has spent the last 6 months putting in a bottoming pattern (ascending triangle) and running into resistance just above the 700 level. However, a breakout could be close at hand… The series of higher lows remains intact … Continued

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We are seeing a very interesting dynamic take hold in crude oil futures markets: In recent weeks we have witnessed a confluence of forces; speculators have covered shorts in large numbers while also aggressively adding to long positions, meanwhile, producers … Continued

Front month crude futures briefly touched $44.52/barrel following the weekly oil inventories report from the EIA which contained the following sentence: “At 406.7 million barrels, U.S. crude oil inventories are at the highest level for this time of year in at … Continued